we know there's no great shakes to talk about with the economy. sure, we have a better situation in housing and corporate cash is strong. still got real pockets and real issues and uncertainties. >> no, no, there are. >> what's the catalyst? >> robert schiller was saying even the housing rally doesn't look at strong to him as people think. he's serving customers rather than speculators saying people aren't really that much more bullish on housing so even the housing thing may not have the legs that people think. >> but, you know, harry, own if the housing doesn't have the thing, it's still improving. we've still got jobless rates going down and quite frankly i think qe3 is working, and as long as we don't have job raise go below 6.5 the pump will pump up this thing like an old athlete on steroid. >> basis points are up despite qe3. that's not working. >> those are long rates only and that's because there's less risk aversion out there. people want more risky assets. this doesn't make the commercial banking system heal and get the money velocity wo